SoulCycle Agrees First Two London Leases
SoulCycle, the boutique fitness studio brand that spread rapidly across the U.S., has agreed its first two London leases in its first expansion outside of North America.
Last week SoulCycle anounced it had agreed to lease 3,500 SF at 3-4 Great Marlborough St. in Soho. The building retail element of the building is owned by L.M. Stern.
And Bisnow can reveal SoulCycle has agreed a deal with the Cadogan Estate to create a larger 5,100 SF flagship location on the King's Road in Chelsea, West London. A planning application for change of use from retail to leisure is being processed for the unit, which will also be split across a ground floor and basement.
The boutique fitness sector in London is booming, with the number of studios in London increasing by 28% to 278 between 1 January and 31 October 2018, according to Leisure DB. That number has shot up by 281% in the past five years.
The Soho location will include a 60-bike studio, shop and changing rooms with 13 showers, according to a statement from SoulCycle’s owner, gym and hotel group Equinox. It will be used for live events and concerts as well as the spinning classes for which it is known.
A planning application to Westminster Council showed that the facility will be split between the ground floor and basement. It is scheduled to open in June.
After years of rumours, Bisnow revealed that SoulCycle was definitely opening in London, but that was more than 18 months ago. During that time Equinox has been working on lease negotiations with landlords. Equinox Chief Development Officer Jeff Weinhaus said at the time that there were initial plans to open three studios in London.
"The launch of our studio in the heart of Soho is just the beginning," SoulCycle Chief Executive Melanie Whelan said in a statement. "We'll be announcing additional locations and experiences in London very soon.”
Since starting out in 2006, SoulCycle has opened more than 90 studios across North America, making it one of the world’s largest boutique fitness brands. The mix of intense spinning classes, atmospheric lighting and instructors who are part DJ, part life coach, part shaman has drawn myriad celebrity devotees such as David Beckham, Jay-Z and Beyoncé.
The Cadogan Estate, which owns 93 acres of property in Knightsbridge and Chelsea, has been revitalising the King's Road over the past decade, reducing the number of chain retailers in the properties it owns and bringing in more independent retailers and leisure brands. Spinning is clearly a big part of this — Peloton, the U.S. spinning bike retailer, also opened on the King's Road recently.